Attention, the money deposited in the bank or post office account is no longer yours! Let’s go into the details and see everything there is to know about it.
Often we hardly notice it, yet there are really many times when we find ourselves having to put our wallet in order to be able to to pay the various goods and services of our interest.
Starting from food, passing through clothes, up to the bills of domestic users, there are so many expenses to be reckoned with and which inevitably end up weighing on the family budget. Hence the decision of many to turn a special attention to the world of savings, in order to have a few more euros to draw on in case of need.
In this context, many are leaving as much money as possible on the Bank account as it is considered the safest solution. But what would you think if we told you that the money deposited in the checking account they are no longer yours, but do they become the property of the bank or post office? So let’s go into the details and see everything there is to know about it.
Bank or postal current account, attention, “the money is no longer yours”: all you need to know
As we have already seen, leave your own standing money in your checking account can often be counterproductive due to costs and risks arising. If all this were not enough, you should know that the money deposited in the bank or post office account is no longer yours! How is it possible?
Well, in this context theArticle 1834 of the Civil Code. According to the latter, in fact: “In deposits of a sum of money with a bank, qhis acquires ownership of it and is obliged to return it in the same monetary speciesupon expiry of the agreed term or at the request of the depositor, with the observance of the notice period established by the parties or by the customs“.
This therefore means that once the money has been deposited in the current account, the bank or post office acquires ownership for a certain period of time. That is, until the expiry date of the contract or until the account holder requests the relative one return.
If all this were not enough, in extreme cases there is also the risk of having to financially support the bank in the event of bankruptcy. In this case, in fact, there is a risk of having to deal with the Bail In procedure.
The latter, we recall, consists in the forced withdrawal of money from the current accounts of customers with an average balance greater than 100 thousand euros. As already mentioned, however, it should be emphasized that the latter situation can only occur in extreme cases and if the deposit is greater than 100 thousand euros.
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